Transaction Details

March 17, 2021
New York

Sector

Technology, Real Estate

Deal Type

M&A

Deal Team

Chris Gough, Rip Furniss, Matt Brophy, Chris Grubbs

GCA advises UniversalCIS on its majority investment from Lovell Minnick Partners

GCA is pleased to announce that we advised UniversalCIS, a market-leading, technology-enabled provider of credit data and related origination solutions for the mortgage industry, on its majority investment from Lovell Minnick Partners.

UniversalCIS provides a leading technology platform that offers credit data and origination solutions to over 4,000 clients in the North American mortgage market, including banks, non-bank mortgage lenders, credit unions and mortgage brokers.

The platform is integrated into approximately 60 loan origination systems and serves as the first interaction point for clients in the loan application process.

The Company rebranded as UniversalCIS in January 2021 following the combination in 2020 of Universal Credit Services, CIS Credit Solutions and Avantus, three longstanding credit technology and solutions providers to the mortgage originations industry. UniversalCIS also acquired mortgage appraisal technology provider SharperLending to enhance the Company’s software offerings. SharperLending operates as an independent business unit as a wholly owned subsidiary of UniversalCIS.

“Lovell Minnick has a strong track record of supporting financial technology companies in the mortgage and lending industry as they scale their businesses, making them an ideal partner for us,” said Perry Steiner, Chairman of UniversalCIS. “We’re excited to embark on the next chapter of UniversalCIS’ success as we collaborate with Lovell Minnick to continue to broaden and enhance our technology offerings for new clients and markets.”

Jerry Haftmann, CEO of UniversalCIS, added, “The UniversalCIS team has always been laser-focused on creating unique, effective technology for the mortgage industry, and this partnership with Lovell Minnick underscores our commitment to continuing to develop best-in-class services for key stakeholders at a greater breadth and depth than ever before.”

Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services.

Former Speaker of the House Paul Ryan and Former Secretary of the Navy John Dalton will continue to serve UniversalCIS, joining the Company’s board of directors. Steve Ozonian, an advisor to Lovell Minnick and industry veteran, will also join the board.

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